Wells Fargo & Company (NYSE: WFC) today released the results of its
company-run stress test conducted in accordance with the Dodd-Frank Wall
Street Reform and Consumer Protection Act (DFA).
The results can be found at: https://www.wellsfargo.com/about/investor-relations/stress-test-reports/
The Federal Reserve Board has published the results of its
supervisory-run DFA stress tests for the nation’s largest banks,
including Wells Fargo, using the Dodd-Frank Capital Actions1 distribution
requirements. Wells Fargo’s estimates may differ from the Federal
Reserve Board’s estimates.
About Wells Fargo
Wells Fargo & Company (NYSE: WFC) is a diversified, community-based
financial services company with $1.9 trillion in assets. Wells Fargo’s
vision is to satisfy our customers’ financial needs and help them
succeed financially. Founded in 1852 and headquartered in San Francisco,
Wells Fargo provides banking, investments, mortgage, and consumer and
commercial finance through 8,200 locations, 13,000 ATMs, the internet
(wellsfargo.com) and mobile banking, and has offices in 42 countries and
territories to support customers who conduct business in the global
economy. With approximately 265,000 team members, Wells Fargo serves one
in three households in the United States. Wells Fargo & Company was
ranked No. 26 on Fortune’s 2018 rankings of America’s largest
corporations.
Cautionary Statement about Forward-Looking Statements
This news release contains forward-looking statements about our future
regulatory capital levels, which will be an important factor in
determining the extent we may pay common stock dividends and repurchase
common stock. Forward-looking statements speak only as of the date made,
and we do not undertake to update them. Actual capital levels and
capital actions may vary materially from expectations due to a number of
factors, including those described in our reports filed with the
Securities and Exchange Commission and available at www.sec.gov.
The amount and timing of any future common stock dividends or
repurchases will depend on the earnings, cash requirements and financial
condition of the Company, market conditions, capital requirements
(including under Basel capital standards), common stock issuance
requirements, applicable law and regulations (including federal
securities laws and federal banking regulations), and other factors
deemed relevant by the Company’s Board of Directors, and may be subject
to regulatory approval or conditions.
1. Capital actions that are prescribed by the DFA stress test rule,
which included estimated Q1 2018 capital actions taken by the Company,
and for quarters two through nine of the test horizon, no issuance of
regulatory capital other than assumed issuance of common stock for
employee compensation; payments of common stock dividends equal to the
quarterly average dollar amount paid by the Company from Q2 2017 through
Q1 2018; payments on all other regulatory capital instruments equal to
the stated dividend, interest, or principal due during the quarter; and
no capital redemptions or purchases.
